Brought to you by AIB
Let’s set those wheels in motion…
When it comes to buying a second hand car, you’re going to want to make sure you do your homework and with both the pandemic and Brexit leaving their mark on the Irish car market, finding a second hand motor to suit your needs has become quite the task.
Whether it’s your very first car or if you’re looking for an affordable way to upgrade your current model, buying a second-hand set of wheels is quite the attractive option.
We’ve teamed up with the folks at AIB to bring you some top tips to keep in mind when you’re shopping around for a second hand car.
You can borrow anything from €1,000 to €30,000 online or in app with loan approval within 3 hours. For loans over €30,000 you can call into your local branch or call the team on 0818 724 725. Simply head to the AIB App or website to get the show on the road.
In the meantime, here are some terrific top tips to keep in mind when you’re looking for a great second hand car…
Do your research!
With so many makes and models on the market, you need to ask yourself exactly what you want from your motor. A recent article in the Irish Times stated that the asking prices for second hand cars are up 56% since the start of the pandemic, while Brexit has made its mark on market inflation and fuel prices surge to record heights, keeping your car on the road is quite the costly affair.
You’ll need to consider the engine size, whether hybrid or electric cars might be a viable option for you – and don’t forget about both the boot and interior space. On top of that, there are plenty of other fantastic features to consider such as parking sensors, automatic high beams, heated seats and keyless entry that might be essential to you.
The main thing to do is set your budget, then decide what you can’t live without, and draw the line there.
Don’t be afraid to ask questions…
It’s easy to get caught up in the excitement of viewing new cars, but you’re going to need to keep your head screwed on too.
Finding out if it’s ever been crashed and enquiring as to whether the car comes with a valid NCT should all be on your checklist if you’re buying from a private seller, while finding out how long the guarantee is and what it covers are essential questions if you’re buying from a dealership. From service history to how old the tires are, you’re going to want to make sure you know every single thing about this vehicle before you consider sealing the deal.
While AIB can certainly take care of the financial expertise, there’s no harm in bringing along someone you trust to check out the vehicle and to make sure you haven’t missed out on anything!
What to look out for…
Ahead of any test drive, you need to give the interior and exterior a thorough inspection.
Look out for any excess signs of wear and tear that may not be consistent with the car’s mileage, and make sure to check that a spare tire, jack and wheel brace are present and accounted for.
Look under the hood and make sure that the oil and water are at a good level, inspect for any signs of rusting around the battery and don’t forget to test that every one of the car’s lights work.
Sealing the deal…
If you’ve found a car that ticks all of the boxes, make sure to get the vehicle’s documentation so that you can be informed of both accident and insurance history. Once satisfied that there are no outstanding finances and you’re ready to seal the deal, you’ll have the option of paying in cash, by cheque or via online bank transfer.
Regardless of payment method, securing a signed receipt is essential.
Keeping your car on the road will also require the extra costs of tax, insurance and NCTs in mind – so make sure to factor these in when you’re calculating your AIB car loan.
Want to get driving as soon as possible? Apply for an AIB personal loan today and make your dreams become a reality. Apply on the AIB App or check out the online loan calculator on the AIB website for more details.
Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland
Brought to you by AIB
